Don't miss the latest space insights

Subscribe to our newsletter

NSW government positions state to take advantage of booming space economy

Stephen Kuper

NSW Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres has announced the launch of the state government’s $5 million ‘NSW Space Industry Development Strategy’.

NSW government positions state to take advantage of booming space economy
nestegg logo

The NSW Space Industry Development Strategy will maximise opportunities for NSW businesses to take advantage of the growing demand for space technologies estimated to be worth $420 billion globally.

The $5 million space strategy will include the delivery of a National Space Industry Hub, located in the Sydney Innovation and Technology Precinct, with expressions of interest to run the hub being released shortly.

NSW Space Industry Development Strategy will maximise opportunities for NSW businesses to take advantage of the growing demand for space technologies estimated to be worth $420 billion globally.

"Nearly every industry is looking to increase its output and improve its efficiency through space-enabled technologies. As a state and a nation we have been experiencing a catastrophic and unprecedented bushfire season. The Rural Fire Service was able to use space-enabled technologies to assist in predicting the conditions and arming the first responders with the right information and resources," Minister Ayres explained. 

Advertisement
Advertisement

The state is also searching for a delivery partner to facilitate access to space for start-ups and researchers looking to commercialise their technologies.

"As the country’s leading high-tech research and manufacturing state, NSW has the necessary combination of technical expertise, advanced manufacturing and university support to seize and nurture these opportunities," Minister Ayres added.

NSW space industry ambassador Dr Paul Scully-Power said, "The highly innovative and technically sophisticated global space industry is rapidly expanding, and this strategy will help NSW solidify its position as the nation leader in the commercial space sector."

Kirby Ikin, managing director of Sydney-based space consulting firm Asia Pacific Aerospace Consultants, added, "Australia is second after the USA in the creation of start-up companies in space related fields and the majority of those are located in NSW, along with most of the venture capital funds which make these businesses possible."

The NSW Space Industry Development Strategy identifies the areas of competitive advantage NSW enjoys, including:

  • Space systems;
  • Launch and support services;
  • Ground systems;
  • Space-enabled services and applications;
  • R&D; and 
  • Education and training. 

Minister Ayres' ministerial statement articulated NSW's position within Australia's growing space industry: "NSW is well placed to unlock the benefits provided by these opportunities. It has the largest concentration of space-related activity in the country, with more than 40 per cent of the nation’s space businesses and more than a third of space start-ups."

NSW currently accounts for 41 per cent of all Australian space businesses and 35 per cent of Australia’s university space research and development.

The full NSW Government Space Industry Development strategy is available here

Receive the latest developments and updates on Australia’s space industry direct to your inbox. Subscribe today to Space Connect here.

Tags
Category
Receive the latest developments and updates on Australia’s space industry direct to your inbox. Subscribe today to Space Connect.

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.